- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
One of the main points of The Wealth of Nations is that the free market, while appearing chaotic and unrestrained, is actually guided to produce the right amount and variety of goods by a so-called " invisible hand " (an image that Smith had previously employed in Theory of Moral Sentiments, but which has its original use in his essay, "The History of Astronomy"). If a product shortage occurs, for instance, its price rises, creating a profit margin that creates an incentive for others to enter production, eventually curing the shortage. If too many producers enter the market, the increased competition among manufacturers and increased supply would lower the price of the product to its production cost, the " natural price ". Even as profits are zeroed out at the "natural price," there would be incentives to produce goods and services, as all costs of production, including compensation for the owner's labour, are also built into the price of the goods. If prices dip below a zero profit, producers would drop out of the market; if they were above a zero profit, producers would enter the market. Smith believed that while human motives are often selfishness and greed , the competition in the free market would tend to benefit society as a whole by keeping prices low, while still building in an incentive for a wide variety of goods and services. Nevertheless, he was wary of businessmen and argued against the formation of monopolies .
Few, if any chemists have discovered more new simple substances than Scheele. He is credited with: � the discovery of oxygen, chlorine (which he called dephlogisticated marine acid), hydrogen fluoride, silicon fluoride, hydrogen sulfide, hydrogen cyanide. � isolating and characterizing for the first time glycerol, tartaric acid, citric acid, lactic acid, uric acid, benzoic acid, gallic acid, oxalic acid, lactose, Prussic acid, arsenic acid, molybdic acid, tungstic acid, copper arsenite (called "Scheele's green") � First to report the action of light on silver salts (which became the basis of modern photography)
Besides the first good description of the sphenoid bone , he showed that the sternum consists of three portions and the sacrum of five or six; and described accurately the vestibule in the interior of the temporal bone. He not only verified the observation of Etienne on the valves of the hepatic veins, but he described the vena azygos , and discovered the canal which passes in the fetus between the umbilical vein and the vena cava, since named ductus venosus . He described the omentum , and its connections with the stomach, the spleen and the colon ; gave the first correct views of the structure of the pylorus ; observed the small size of the caecal appendix in man; gave the first good account of the mediastinum and pleura and the fullest description of the anatomy of the brain yet advanced. He did not understand the inferior recesses; and his account of the nerves is confused by regarding the optic as the first pair, the third as the fifth and the fifth as the seventh.
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
- In reality, Monesquieu had misunderstood the British gov’t but it still worked out
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